Emera Announces Exercise of Underwriters' Option

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Emera Incorporated ("Emera" or the "Company") (EMA.TO) announced today that in connection with its recently announced public offering of 4,000,000 Cumulative Redeemable First Preferred Shares, Series E (the "Series E Shares"), the underwriters have exercised their option (the "Underwriters' Option") to purchase an additional 1,000,000 Series E Shares at a price of $25.00 per share. Emera will receive additional gross proceeds of $25 million from the exercise of the Underwriters' Option, increasing the total size of the offering to $125 million. Closing of the Underwriters' Option is expected to occur concurrently with the scheduled closing of the public offering on June 10, 2013.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

Forward Looking Information

This news release contains forward looking information. Actual future results may differ materially. Additional information related to Emera, including the company's Annual Information Form, can be found on SEDAR at www.sedar.com.

About Emera

Emera Inc. is an energy and services company with $7.8 billion in assets and 2012 revenues of $2.1 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in three Caribbean countries. More than 80% of the company's earnings come from regulated investments. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A., and EMA.PR.C. Additional information can be accessed at www.emera.com or at www.sedar.com.